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The Real Estate Sales Podcast

Jun 13, 2023

Bring value to your customers by telling them all they need to know about selling in the current market. In this episode of The Real Estate Sales podcast, your host Jimmy Burgess goes through 5 talking points you can use to help your clients understand why it might be time for a price reduction.

  1. Understand Your Numbers.

·         Get fluent in the current statistics and how they compare to the stats of the past. Then communicate those stats to your sellers.

2.            Economics: Demand.

·         Speak about the number of transactions, which can help you see how many buyers are out there. Compare with numbers from previous years and months to help your clients understand the state of the market. 

3.            Economics: Supply.

·         Speak about the current competition. How many houses are on the market and how does that compare to previous years or months? When supply goes up, it can be harder to sell.

4.            Buyers have to see the perceived value of a property.

·         In a competitive market, buyers will want to see low prices, or they will be willing to wait for lower prices when they come along. 

5.            Communicate that the next sale will probably be the highest-price sale.

·         The most recent sale sets the “ceiling” for what the next sales in the area will be. If demand is lower than supply, each sale price will continue to decrease.

6.            Explain your job.

·         Your seller has probably heard that agents want to make “quick sales” and make their commission. Let them know that you just want to give them up-to-date information so they can make their own decisions about what to do.

Do you have a video or content idea perfect for your business? Share it with Jimmy! Connect with Jimmy Burgess on LinkedIn and Facebook, and his YouTube channel.  If you like what you heard today, we’d love it if you’d share a rating or review and then subscribe to the podcast and tell others about it. You can find The Real Estate Sales Podcast on Apple Podcasts, Google Podcasts, Spotify, Audible, and our website, The Real Estate Sales Podcast.